Entrepreneurship and the influence of history: How much impact do country-specific historical factors have on entrepreneurship initiatives?

Abstract

The elements that enhance entrepreneurship have been widely studied. There are factors at different levels: (i) institutional factors such as some governmental policies, or the access entrepreneurs have to financial support; (ii) cultural and social factors such as national culture or networking opportunities; and (iii) individual factors that take into consideration personality traits of the entrepreneur. This chapter reviews the various influences and adds a new one: the historical perspective. Based on historical data (nineteenth and twentieth century) about the number and types of companies in a country, and comparing this data with the current number of entrepreneurship initiatives (2011), we explore the weight historical clusters have on current entrepreneurship.